1. News
August 10, 2018updated 09 Aug 2018 2:56pm

M&As this week: Gantin, Lanka Graphite

Gantin Limited has agreed with Glorious Sun Enterprises (BVI) Limited for the acquisition of 100% stake in Glorious Sun Production (BVI) Limited for HK$800m ($101.92m).

Gantin Limited has agreed with Glorious Sun Enterprises (BVI) Limited for the acquisition of 100% stake in Glorious Sun Production (BVI) Limited for HK$800m ($101.92m).

Gantin is involved in the production and export of casual wear, financial investments, as well as interior decoration and renovation businesses, while Glorious Sun Production is a retailer of apparel products and accessories.

Glorious Sun Production will become a wholly owned subsidiary of Gantin, upon completion of the acquisition.

Yu Ming Investment Management Limited is the financial advisor to Glorious Sun Enterprises for the transaction.

The acquisition will allow Gantin to extend its interior design and renovation services, as well as financial services.

Lanka Graphite Ltd has signed a binding conditional term sheet for the acquisition of 100% stake in MSY group of companies for A$17.5m ($12.91m).

Lanka Graphite is a graphite exploration company, while MSY is a consumer electronics retailer in Australia.

“The acquisition will allow Gantin to extend its interior design and renovation services, as well as financial services.”

MSY will issue a loan of A$1m ($0.74m) to Lanka Graphite, which will be used for relisting transaction costs and working capital requirements.

Lanka Graphite will also raise up to A$3m ($2.2m) through the issue of 60 million ordinary shares at a price of $0.05 each.

Both the companies involved in the acquisition are based in Australia.

Walgreens Boots Alliance has acquired a 40% stake in Sinopharm Holding GuoDa Drugstores (GuoDa) for CNY2.767bn ($416m).

Walgreens Boots Alliance is a pharmacy retailer with presence in the US and Europe, while GuoDa is a retail pharmacy chain with more than 3,800 stores in China.

Walgreens Boots Alliance operates retail and business brands, including Walgreens, Boots, and Alliance Healthcare.